Henry Washington's Strategies In Finding Real Estate Deals | Jay Conner, The Private Money Authority
In today’s real estate market, where there is low inventory, let’s find out from Henry Washington some of his best strategies in finding great real estate deals.
Henry is an author, entrepreneur, and real estate investor with more than 65 rental units and dozens of house flip under his belt.
He built his rental portfolio in just 3 and a half years, allowing him to achieve his goal of financial freedom.
Henry has been featured in numerous online and television publications like FOX Business Morning Show FBN: AM, Yahoo Finance, Business Insider, NBC, CBS, CourseMethod & BiggerPockets – where he enjoys showing others the power of real estate investing and financial freedom.
He strongly believes that helping other people is what helped him become successful in the real estate business.
For him, every investment is going to involve risk, and the most successful people in the world are successful because they take calculated educated risks.
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Jay Conner:
That is what is fantastic about the real estate businesses. You know, there are multiple exit strategies. And a lot of times, I just sort of let the market speak as to who’s going to get the house first. So, you know, in this market, I’m glad you brought that topic up, Henry, you know, in this market today, it’s challenging, more challenging to find great deals and you’re really, really good at finding great deals. So what are your best strategies today for finding the deals?
Henry Washington:
Yeah, so what I do, what you would call like a real estate investing, old school guy, so I’m direct mail. That’s all I’ve really focused on. I have a lead generation website, so I pay for, like, a Google ad words campaign, but most of my marketing budget goes towards direct mail. And I would say the difference between direct mail being successful in this market versus direct mail being successful, you know, two years ago is volume and consistency. You know, a couple of years ago, if you were inconsistent in your mailing, you could probably still land a dealer too, because the market wasn’t as inflated, there was less competition. And so there were more people that were interested in selling their home at a discount. So if you’re slacking on your processes, you could probably still land some deals.
Henry Washington:
Whereas now, if the deals are still out there, but there’s less of them because most buyers understand that, like, even if I have a distress situation, people are buying anything right now, and if I stick it on the market, somebody will make me an offer. And so they understand that. And so that doesn’t mean there are no distressed properties to buy. It just means there are fewer of them. So the people that are landing those deals now are the people who are consistent, who are doing a lot of volume,s and who are putting in the work and the hustle. So it’s not just about doing volume, but you have to be able to follow up on all of your leads. And so, as you’re getting leads, if you’re not setting appointments immediately, making offers on the spot, and then following up on those offers within a few days to find out where that buyer’s headed, it’s, like, the people who just set an appointment and then go look at it when they can, and then make an offer. A few days later, they’re not getting deals. It’s the people who are consistent in their efforts, consistently marketing, consistently offering on everything, consistently following up on those offers. The people who have the processes and procedures in place are the ones that are landing the deals. And so I would tell someone in this market, if you want to be successful at finding great deals, you’ve got to be super intentional and super consistent.
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